Mumbai, Aug 15
The Indian benchmark indices closed higher this week and gained 1 per cent despite geo-political uncertainties, ending a six-week losing streak.
Investors are now focused on the US President Donald Trump and his Russian counterpart Vladimir Putin’s meeting in Alaska, in hopes that it may result in a Russia-Ukraine ceasefire and the lifting of the additional 25 per cent tariff on India.
The Nifty IT index led gains during the week, with Nifty Metal and Nifty FMCG closing lower. Broader markets underperformed, with the Nifty Midcap and Nifty Smallcap indices ending in the red.
As the June quarter (Q1 FY26) earnings are out, the revenue moderation took average net profit expansion YoY for the benchmark Nifty 50 companies (excluding financials and oil and gas) to mid-single digits.
On the earnings front, though, the Nifty50 Q1 FY26 earnings were in line with the market estimates. The overall trend was mixed during the quarter, as the revival expected from urban demand is yet to gather momentum.